Friday, 25 September 2015

Expats' poll shows Singapore the best place to live and work

By Ann Williams, The Straits Times, 24 Sep 2015

Singapore has topped a poll of the best places in the world for expatriates to live and work.It provided the right balance of career opportunities and lifestyle as well as a stable economy, according to HSBC's latest Expat Explorer.Confidence in Singapore's economy is the highest compared with all other countries, the survey showed. Nearly eight in 10 expats in Singapore (79 per cent) are confident about its economy compared with a global average of just 48 per cent.The HSBC Expat Explorer sought the views of 21,950 respondents from 39 countries, asking respondents to rank countries based on career prospects, financial well-being, quality of life and ease of settling for partners and children.

Singapore came out tops based on its rankings among the three broad categories of economics, experience and family, pipping New Zealand and Sweden in second and third place, respectively.

Mr Matthew Colebrook, head of retail banking and wealth management, HSBC Singapore, said: "Singapore provides the perfect blend of career and lifestyle, which makes it a preferred destination for expats."More than half (59 per cent) of expats surveyed believe Singapore is a good place for career advancement and 53 per cent believe they are able to acquire new skills here than at home.

Singapore also offers a better quality of life than in their home country according to 67 per cent of respondents, and 65 per cent acknowledge that their children's health and well-being has improved since they have moved.

Singapore offers better quality education for their children even though it is more expensive, say expats. More than four in five (85 per cent) say that education is more expensive but 66 per cent believe that the quality of education in Singapore is better than in their home country.

More than half of expats in Singapore say it is easy to set up finances (63 per cent) and healthcare (63 per cent). Three-quarters (75 per cent) say their social life is either just as active or more so than back home, and 57 per cent also say they find it easy to adapt to the local culture and lifestyle.

According to the report, 87 per cent of expats living in Singapore say it is a good place to start a new business, which is higher than the global average of 56 per cent. Singapore's regulatory environment allows entrepreneurs to start a business in only a few days.